74% of Nigerian tech startups maintain US ties – Report
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Punch Newspaper
Reported by Felix Oloyede
Thu, 5 Nov 2026, 00:46
Photo courtesy of Punch Newspaper · Verified via News Stand NG
Source Attribution: Punch Newspaper
News Stand NG operates under ethical news aggregation guidelines. Source: Punch Newspaper. To read the unabridged investigative reporting and full gallery, visit the original publication.
“Although the US is the most common destination for Nigerian companies’ foreign affiliations, with 74 per cent maintaining ties there, their UK ties more often involve operations and licensing,” it noted. Among companies with UK affiliations, 84 per cent incorporated there, 47 per cent have an operational presence, and 19 per cent hold regulatory licences.
Context & Background
✦With 76.5 per cent of funded Nigerian startups raising capital in US dollars while generating revenues in naira, currency volatility has intensified the burden of dollar-denominated obligations.
Key Figures & Named Entities
Saturday:The newly released report by TLP Advisory, titled ‘Home & Away: Tracking African Tech’s Global Footprints,’ which was presented to the public in Lagos on Saturday, shows that while Nigerian tech startups pulled in $572m in 2025 – accounting for roughly 14 per cent of the continent’s total venture funding-currency depreciation, limited domestic exit options, and investor mandates are forcing many founders to look outward for survival and scale.2023:Following the Central Bank of Nigeria’s exchange-rate reforms and unification of windows starting in June 2023, the naira moved from roughly N461 to the dollar to about N1,540 by early 2025, before closing the year around N1,450.naira,:With 76.5 per cent of funded Nigerian startups raising capital in US dollars while generating revenues in naira, currency volatility has intensified the burden of dollar-denominated obligations.
Outlook & Next Steps
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Key Takeaways
Verified Extract
✦“Although the US is the most common destination for Nigerian companies’ foreign affiliations, with 74 per cent maintaining ties there, their UK ties more often involve operations and licensing,” it noted.
✦Among companies with UK affiliations, 84 per cent incorporated there, 47 per cent have an operational presence, and 19 per cent hold regulatory licences.
✦With 76.5 per cent of funded Nigerian startups raising capital in US dollars while generating revenues in naira, currency volatility has intensified the burden of dollar-denominated obligations.
Key Facts:Saturday: The newly released report by TLP Advisory, titled ‘Home & Away: Tracking African Tech’s Global Footprints,’ which was presented to the public in Lagos on Saturday, shows that while Nigerian tech startups pulled in $572m in 2025 – accounting for roughly 14 per cent of the continent’s total venture funding-currency depreciation, limited domestic exit options, and investor mandates are forcing many founders to look outward for survival and scale.2023: Following the Central Bank of Nigeria’s exchange-rate reforms and unification of windows starting in June 2023, the naira moved from roughly N461 to the dollar to about N1,540 by early 2025, before closing the year around N1,450.naira,: With 76.5 per cent of funded Nigerian startups raising capital in US dollars while generating revenues in naira, currency volatility has intensified the burden of dollar-denominated obligations.
Editorial Excerpt
A new report reveals 74% of Nigerian tech startups have ties to the US, mainly for incorporation and fundraising due to naira volatility and investor deman
Frequently Asked Questions About This Story
What is the latest development regarding Lagos State?
“Although the US is the most common destination for Nigerian companies’ foreign affiliations, with 74 per cent maintaining ties there, their UK ties more often involve operations and licensing,” it noted.
Who are the key organizations or public figures mentioned?
The primary parties identified in this coverage include Lagos State, Central Bank of Nigeria, Naira & Foreign Exchange Policy.
What timeline or key figures were confirmed?
The newly released report by TLP Advisory, titled ‘Home & Away: Tracking African Tech’s Global Footprints,’ which was presented to the public in Lagos on Saturday, shows that while Nigerian tech startups pulled in $572m in 2025 – accounting for roughly 14 per cent of the continent’s total venture funding-currency depreciation, limited domestic exit options, and investor mandates are forcing many founders to look outward for survival and scale.
